Finland's Seafarers’ Pension Fund remained on a solid financial footing in 2025, despite a more uncertain operating environment and an evolving risk landscape for the shipping sector.

According to the fund’s unaudited results, a total of 7,516 people were insured during the year, with total payroll exceeding €305m.

The number of pension recipients stood at 7,424, making 2025 an "exceptional" year in which the number of insured members surpassed the number of pensioners, the fund said.

Investment performance was also positive, with a return of 6.2 per cent for the year, while the market value of investments totalled €1.48bn at year-end.

Returns on liquid equity and fixed-income investments exceeded 11 per cent while illiquid investments delivered returns below 2 per cent.

Meanwhile, the fund continued to reduce its exposure to illiquid assets, including by selling forestry holdings and divesting direct residential property investments.

This freed up capital for equities, the share of which is expected to increase further following the reform of Finland’s earnings-related pension system.

At the end of 2025, equity investments accounted for 60.4 per cent of the total portfolio.

Solvency remained strong, with the solvency ratio unchanged at 188 per cent compared with the previous year.

The fund said this position supported its preparations for the forthcoming earnings-related pension reform, scheduled for 2026–2027.

Despite the positive returns, the fund noted that growing concerns about supply security and geopolitical risks, particularly in the Baltic Sea region, underscore the importance of Finnish shipping and its long-term outlook.

At the same time, the operating environment has become more vulnerable to disruption, prompting closer monitoring of sector-specific risks.

Operationally, progress continued on digital development.

Register-based statistics were published via the Ankkuri online service for employer shipping companies, while maritime sector statistics were also made available on the fund’s website for wider industry use.

Work on sustainability and corporate responsibility remained embedded in operations, alongside further strengthening of information security.

Cooperation with shipping companies and other stakeholders continued, and new operating models were developed to support seafarers’ work capacity.

The fund said these initiatives aimed to improve the assessment and management of disability risks and support adaptation to changes in the pension system.

---